Avrupa Minerals (TSXV:AVU) announce that Giroux Consultants Ltd. has completed an initial Indicated Mineral Resource for the main Peshter Gossan Zone at the Slivovo Gold Project in Kosovo.
Avrupa Minerals (TSXV:AVU) announce that Giroux Consultants Ltd. has completed an initial Indicated Mineral Resource for the main Peshter Gossan Zone at the Slivovo Gold Project in Kosovo. Avrupa Minerals currently holds 25% of the Project through the joint venture entity Peshter Mining JSC, which is presently operated by partner Byrnecut International Ltd.
As quoted in the press release:
Byrnecut has informed the Company that it will proceed with funding a Pre-Feasibility Study (“PFS”) of the Slivovo Project. Byrnecut has spent over 2 million euros (approximately C$2.84 million) at Slivovo and has completed the 75% earn-in stage to the project. With the initiation of work to complete the PFS and fulfill prerequisites for the application for a mining license, Byrnecut has now started on the final 85% earn-in stage.
The Slivovo Project comprises a number of exploration prospects, with the primary focus of work being on the Peshter Gossan Zone. Some of the drilling targeted the nearby Gossan Extension Zone, but not enough at this time to be included in this resource estimate. Further definition drilling work is anticipated later this year in both the Gossan Extension Zone and the Peshter Gossan, which may increase the mineral inventory.
The mineralized body at Slivovo is a moderately ENE-plunging block of mineralization, exposed at the surface to the SW, and cut off on the NW and SE by steep, post-mineralization faults and underneath by a shallow ENE-dipping, post-mineralization fault. The mineralization is open down-plunge to the ENE. Precious metal mineralization is hosted within a package of steeply dipping sedimentary beds of silicified and de-calcified pebble conglomerates, sandstone conglomerates, and sandstones. Understanding of the total post-mineral fault movement suggests that further mineral targets exist in the proximity of the Slivovo Indicated Mineral Resource, as well as elsewhere on the exploration license.